Ormat Technologies, Inc. (NYSE:ORA) Plans $0.12 Quarterly Dividend

Key Points

• Ormat Technologies declared a quarterly dividend of $0.12 per share, payable September 2 to shareholders of record August 19. The dividend implies an annualized payout of $0.48 and a yield of approximately 0.5%, with an expected future payout ratio near 19%.
• The company reported quarterly earnings of $0.50 per share, beating analyst estimates of $0.26, while revenue rose 10.6% year over year to $258.76 million and exceeded expectations.
• Ormat shares opened at $98.06, down 2.0%, and remain well below their 52-week high of $146.39. The renewable-energy company specializes in geothermal and recovered-energy power projects.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Wednesday, August 19th will be paid a dividend of 0.12 per share by the energy company on Wednesday, September 2nd. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 19th.

Ormat Technologies has raised its dividend payment by an average of 0.0%annually over the last three years. Ormat Technologies has a payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ormat Technologies to earn $2.51 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 19.1%.

Ormat Technologies Stock Down 2.0%

ORA opened at $98.06 on Thursday. Ormat Technologies has a one year low of $84.13 and a one year high of $146.39. The company has a fifty day moving average price of $117.64 and a 200-day moving average price of $117.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market capitalization of $6.03 billion, a P/E ratio of 47.60, a price-to-earnings-growth ratio of 4.27 and a beta of 0.90.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The energy company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.24. The business had revenue of $258.76 million for the quarter, compared to analyst estimates of $240.03 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. Equities research analysts expect that Ormat Technologies will post 2.35 earnings per share for the current fiscal year.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company's core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat's offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.

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